The country experienced its highest total-year occupancy level since 2012. STR analysts note that strong demand (+6.7%) surpassed supply growth (+3.5%) as arrivals to the city-state continued to rise and the pace of new hotel openings slowed.

Occupancy declined as supply growth (+1.9%) outpaced mostly flat demand (+0.1%)—a trend likely to continue as new hotels are lined up for construction, according to STR analysts. However, demand into the city is expected to continue to grow long-term as plans for an expansion of the international airport should facilitate new arrivals.

With a wider variety of growth around Thailand, Bangkok maintained strong performance, particularly in the central areas of the city, as supply growth softened. STR analysts do however note that there is slight uncertainty in various markets that began later in 2018, as the pace of important international arrival segments such as that of mainland China has slowed down. The country has showed its resilience many times in the past to external factors, and 2019 is likely to provide another test.

The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca atsricca@hotelnewsnow.com.

No Comments

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam.
Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or
material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect
the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations
to our editorial staff.